Sydney, July 17, 2008 (ABN Newswire) - Dyesol Ltd. (ASX:DYE) has entered into a EURO 600,000 (approximately AUD$1M) contract with Korean company Acrosol to supply a turnkey R&D laboratory and provide comprehensive training in Dye Solar Cell (DSC) development.
Led by Dr Hyung-Gon Jeong, Acrosol is a Korean University spin out company located in the business incubator at Chonnam National University, with proprietary technology, intellectual property and expertise in Dye Solar Cell nanomaterials, particularly Phosphor Doped DSC.
"Dyesol is increasingly being recognised as the world leader in DSC materials and technology. There is a rapidly growing demand for our technology, turnkey facilities, materials, and practical expertise from an increasing number of companies entering the DSC market operating in diverse geographic locations," Dyesol Director Global Gordon Thompson said.
Acrosol will develop and commercialise its technology and products through a commercial arrangement with Dyesol involving ongoing technological collaboration and materials supply.
The contract commenced on receipt of the initial payment of EURO 150,000.
This new Korean initiative comes just weeks after Dyesol signed a Heads of Agreement with the Kosdaq listed company Timo Technology (KDQ:037340) as the first step in establishing a joint venture in Korea.
Dyesol is located in Queanbeyan NSW (near Canberra) and in August 2005 was listed on the Australian Stock Exchange (ASX Code ‘DYE’). Dyesol manufactures and supplies a range of dye solar cell products comprising equipment, chemicals, materials, components and related services to researchers and manufacturers of DSC. Dyesol has subsidiaries in UK, Italy, Switzerland, USA, Korea and Singapore plus representatives and agents in Turkey, Germany, Abu Dhabi, Malaysia, Taiwan and Japan. The Company is playing a key role in taking this third generation solar technology from development into commercial production.
Dyesol Limited
